Press release
Wellness Water Market Expected Demand of US$ 30.9 Billion by 2033, Amid 7.6% CAGR Expansion
Wellness Water Market
๐๐๐๐๐ฌ๐ฌ ๐ ๐ฎ๐ฅ๐ฅ ๐๐ฎ๐ฆ๐ฆ๐๐ซ๐ฒ: https://www.alliedmarketresearch.com/wellness-water-market-A06518
The global wellness water market is experiencing growth due to rise in health consciousness, increase in awareness for hydration, and demand for natural and organic products. However, the high cost and availability of substitutes hinder the market growth to some extent. Moreover, sustainable packaging and product innovations offer remunerative opportunities for the expansion of the global wellness water market.
Over the years, the daily schedules of the consumers have become increasingly chaotic, necessitating a lifestyle change to handle the daily tasks. The shift in lifestyle hampers health and is becoming a root cause of health complications such as obesity, cardiovascular disease, vitamin deficiencies, and others. In response to this concern, wellness water companies have developed products that are enriched with minerals, alkaloids, antioxidants, and protein. For instance, in 2021, The Alkaline Water Company, headquartered in Scottsdale, Arizona, launched its alkaline water infused with flavors in six different variants. The added health advantages of alkaline flavored waters, such as colon cleansing qualities, anti-aging characteristics, and skin hydration properties, lead customers to switch from sweetened beverages to wellness water.
The wellness water market is segmented into functional ingredient, flavor, distribution channel, and region. On the basis of functional ingredient, the market is divided into vitamin & minerals, botanical ingredients, and other functional ingredients. As per flavor, the market is segregated into fruit flavor, herb flavor, and others. On the basis of distribution channel, the market is bifurcated into hypermarkets/supermarkets, convenience stores, drug stores, online store, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The hypermarkets/supermarkets segment is expected to exhibit fastest growth throughout the forecast period
Based on distribution channel, the hypermarkets/supermarkets segment held the highest market share in 2023, accounting for half of the global wellness water market revenue and is likely to retain its dominance throughout the forecast period. Hypermarkets/supermarkets feature a separate area for wellness water products, making it easier for consumers to identify and purchase the product. Hypermarkets/supermarkets provide the consumers with premium advantages such as availability of different brands of wellness water, discounts on certain brands, the assistance of sales representatives, and easy checkouts. The development of new hypermarkets/supermarkets in the suburbs has provided consumers and manufacturers with a chance to explore the wellness water products in the market.
Based on functional ingredients, the vitamin & minerals segment held the highest market share in 2023, accounting for more than half of the global wellness water market revenue and is likely to retain its dominance throughout the forecast period. Vitamins and minerals are the preferred functional ingredients used in wellness water due to their essential roles in supporting overall health and well-being. These nutrients help address specific health concerns such as boosting the immune system, enhancing energy levels, and improving hydration.
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The fruit flavor segment is expected to exhibit fastest growth throughout the forecast period
Based on flavor, the fruit flavor segment held the highest market share in 2023, accounting for nearly three-fifths of the global wellness water market revenue and is likely to retain its dominance throughout the forecast period. Fruit flavor is the most preferred flavor used in wellness water, appealing to consumers seeking a refreshing and enjoyable drinking experience. The natural sweetness and vibrant taste of fruits like lemon, berry, and tropical blends not only enhance the palatability of the water but also offer a sense of indulgence without the added calories and sugars found in traditional sugary drinks. This preference is driven by the growing demand for healthier beverage options that still deliver on taste.
North America to maintain its dominance by 2033
Based on region, North America held the highest market share in terms of revenue in 2023, accounting for more than one-third of the global wellness water market revenue and is expected to remain dominant throughout the forecast timeframe. North America's dominance is driven by a highly health-conscious population, robust economic conditions, and an advanced retail infrastructure. The U.S. leads the market due to its large base of fitness enthusiasts and growing awareness of the benefits of functional beverages. The region's consumers are increasingly seeking out enhanced water options that provide additional health benefits such as improved hydration, vitamins, and minerals.
According to wellness water market analysis the major players operating include Danone S.A., The Coca-Cola Company, PepsiCo Inc., Nestle S.A., Keurig Dr Pepper, Hint Water Inc, Tata Group, The Alkaline Water Co., Nirvana Water Sciences, and Balance Water Company LLC.
Other players in wellness water market forecast period includes Athlex Beverages Private Limited, Flow Beverage Corp, VOSS of Norway AS, Alkaline88, SUNNYD, Disruptive Beverages Inc, Agua Mineral San Benedetto, S.A.U., Vichy Catalan Corporation, Triamino Brands LLC, and Unique Foods.
Recent Industry Developments
โข In July 2022, Flow Beverage Corp., a US-based beverage manufacturer, expanded its Flow Vitamin-Infused Water product range with three additional organic flavors: cherry, citrus and elderberry. The newly developed vitamin-infused water is accessible directly to US customers via its website.
โข In March 2022, Nirvana Water Sciences Corp, a beverage manufacturer, increased its product line by launching Nirvana HMB + Vitamin D3 natural spring water at Expo West in California. This new product promotes muscle repair and immunity.
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